Russian produce RusAl said that the US Southern District of New York court has dismissed a lawsuit brought against it by BFI Group on the grounds it was not the appropriate legal forum to hear the case.
The action relates to the purchase by RusAl of the Ikot Abasi smelter in Nigeria. BFI, representing a group of Nigerian expatriates domiciled in the US, alleged irregularities with the way the privatization of the smelter was handled.
RusAl said it "has always believed that this case is entirely without merit and now welcomes the court's decision," adding: "We plan to continue the development of our business in Nigeria and look forward to the expected relaunch of (the smelter) by the end of 2007."
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